Mortgage vs RRSP vs TFSA

Tools

Mortgage vs RRSP vs TFSA

Use this calm, simple tool to see how putting extra money on your mortgage compares to investing the same amount in an RRSP or TFSA over time.

This is an educational tool only. It doesn’t give personalized advice, but it can help you feel more confident before you talk to a professional.

1. Enter your numbers

Your extra money & time horizon

Extra amount per month Comparison period (years) Your marginal tax rate (%)

Your mortgage details

Current mortgage balance Mortgage interest rate (%) Years remaining on mortgage

Investment assumptions

RRSP annual return (%) TFSA annual return (%) Assume RRSP tax refunds are also invested

2. See the comparison

Extra mortgage payments
Estimated interest saved
$0

Invest in RRSP
Future value + tax refunds $0 + $0

Invest in TFSA
Future value (tax-free growth) $0

Overall comparison (rough totals)

Mortgage prepayments (interest saved) $0
RRSP (future value + refunds) $0
TFSA (future value) $0

What this means

Enter a few numbers on the left and we’ll show which option appears strongest based on these assumptions.

All amounts are estimates and before tax on RRSP withdrawals. Actual results will differ. This tool is for education only and doesn’t replace personalized advice.